Trump Halts Planned Iran Attack, Signals New Talks to Begin Monday
President Donald Trump announced on Air Force One that a planned strike on Iran had been cancelled and that negotiations with Tehran would commence on Monday afternoon.
"We were all set to go," Trump said, quoting pressure from U.S. allies and Gulf partners such as Saudi Arabia, the United Arab Emirates and Qatar. He added, "There will be a deal on Hormuz and there will be a deal on the nuclear."
The decision came after weeks of back‑and‑forth between Washington and Tehran, with the U.S. warning of a forceful response and Iran reportedly agreeing to "hold off" pending a deal. Iran has so far declined to comment on the president’s statements.
Global oil markets responded to the news, with Brent crude falling 4.5% to $83.98 and U.S. crude trading 4.6% lower at $80.74. The dip reflects traders’ reassessment of shipping disruptions through the Strait of Hormuz, through which about 20% of the world's crude and LNG passes.
Trump’s rhetoric has oscillated between threats of the "biggest attack since World War II" and calls for diplomacy. He also warned on social media that canceling the strike would be for the long‑term benefit of the world and a prosperous Iran.
The administration has yet to detail the venue for the upcoming talks or the participating officials. Iran’s acting defence minister warned the U.S. of credible threats from adversaries, promising to be neither caught off guard nor passive.
Analysts note that while the announcement may calm markets temporarily, underlying tensions in the region continue to pose significant geopolitical risks.
